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A company had the following items and amounts in its unadjusted trial balance as of...

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Accounting

A company had the following items and amounts in its unadjusted trial balance as of December 31 of the current year

Debit Credit
Cash Sales $188,000
Credit Sales $275,000
Accounts Receivable $76,000
Allowance for Doubtful Accounts $1,000

Prepare the adjusting entry to estimate bad debts assuming an aging analysis estimates that 8% of the outstanding accounts receivable will be uncollectible. Show the work in a journal entry table.

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